Marketing Research Essentials: Casino's Redevelopment Analysis

This report presents a marketing research study conducted to assess the redevelopment strategy of a casino, employing a deductive approach and quantitative research methods. The research involved interviews with 800 individuals to gather data on customer attraction, brand value (specifically regarding the name 'Fun City'), and potential new branding strategies. The study utilized factor analysis to analyze the collected data, which included a budget of $5000. The findings suggest that the casino should consider retaining the old name, Fun City, due to its established brand value. The report details the research methodology, including the use of questionnaires, and analyzes the potential outcomes regarding customer attraction and branding decisions. The research aims to provide actionable insights for the casino's management to improve its business strategies and achieve commercial success.

Running head: MARKETING RESEARCH ESSENTILS
Marketing research essentials
Name of the Student
Name of the University
Author note

MARKETING RESEARCH ESSENTIALS
Research approach
In this paper, a deductive approach of research is followed and it is involved in
developing a hypotheses based on the existing theory, and then a research strategy will be
designed for testing the hypotheses (Miller et al. 2013). In this research the deductive
approach has been taken to avoid the risk factors in the research, because, this approach
explores a theory that is known and then tests whether the theory is valid in that particular
circumstances or not.
Research method
In this paper, the research would be in a quantitative approach and in this research one
or more hypothesis can be found. Data is collected and a proper statistical analysis is
provided (Lai, Chan and Lam 2013). This analysis allows determining to what extent there is
a relationship between two or more than two variables (Vong, Lai and Li 2016). In this
research, objectivity is the key, the research ensures all the measuring has been done for the
assignment, and those are considered prepared and controlled in advance. The focal point of
this research is on the deductive reasoning that tends to move from general to specific (Vong,
Lai and Li 2016). It is worth mentioning that in this research, almost 800 people are involved
and they are the representative sample of the research, as they were interviewed for the
research work. These people were questions regarding the position of the casino as whether
the casino would be able to attract gamblers or not, and whether the managerial body should
retain the old name considering the brand value of the previous organization. Apart from that,
some general inputs were taken from them so that the management can work on them to
make the organization reach the height of success within a short span of time (Prentice and
Woodside 2013).

MARKETING RESEARCH ESSENTIALS
Sample size and selection
For this research, total 800 interviews were taken and the average interview length is
20 minutes and the average completion rate is 0.62 per hour. No open-ended questions were
asked (Prentice and King 2013). The questions were asked in the interview were based on the
factors like whether the position of the new casino is good to attract customers or not.
whether the previous name Fun City should be replaced with a new one, or it should be
retained for its brand value, and finally if the name has to be changed what could possibly be
the new name for the organization (Lee 2013).
Quantitative research
In this paper, usage of sampling technique is followed where the findings are
expressed numerically and the mathematical manipulation enables to determine or estimate
the future quantities or events (Lee et al. 2013). As the casino is redeveloping this
quantitative research method would be best suited for this paper to take the correct decisions
at accordingly. The advantage of quantitative research is based on the deductive reasoning
that moves from general to specific (Tian, Zhang and Zou 2014).
Research tools
In this paper, interviewing 800 people is used as a tool of research and the
questionnaire is provided in the appendix. Each individual was asked a few questions that
took nearly twenty minutes and no open-ended questions were asked in the process. After
evaluating the answers of the questions asked, the strategists should consider the views of
those comments and strategize their work accordingly (Prentice and Woodside 2013). The
local residents were interviewed in this process and some gamblers were also asked questions
for the best outcome. It is a matter of fact that using sampling and data collection from the
local residents and big or small gamblers might not be very effective in every case (Prentice

MARKETING RESEARCH ESSENTIALS
and King 2013). It is a matter of fact that, these people have no professional experience
regarding how to run a casino that is been redeveloped aiming to get commercial success
instantly. The responses gathered from these people may not be right all the time and that can
lead the data collection and sampling suffer as there might me some responses those are not
valid in this case.
Proposed method of analysis
In this paper, a thorough factor analysis has been done and in the process a mass of
data is collected and those were put in to a smaller data set that would be more manageable
(Hair et al. 2008). It is a way to get the hidden patterns and how those patterns overlap with
each other and what are the characteristics of those patterns. A factor is a set of variables that
have similar response patterns as those are linked with variable that is not directly measured.
In this case a confirmatory factor analysis is done for the verification as there is a specific
structure of the data is given (Baloglu, Zhong and Stanford 2017). A thorough research has
been done collecting samples from the residents of the area where the casino is being
redeveloped. Apart from them, a number of gamblers who are big shot gamblers or gamblers
with medium capabilities (Lee 2013). It is not always obvious that the answers of these
people are apt for strategizing on them. Thus totally depending n the answers of the
interviewees may not serve the purpose of strategizing the business of the redeveloped
casino.
Budget
While conducting the research the budget has been restrained within the previously
allocated budget and it is seen that the primary costs were due to travelling and recording the
interviews and the printing costs (Lai, Chan and Lam 2013). There were some other expenses
due to emergency purposes to get the best results or outcomes after the thorough research was

MARKETING RESEARCH ESSENTIALS
made. A thorough process of interviewing 800 people was a part of the data collection and
for that, transportations costs were needed and useful devices were purchased so that the
sample collection faces no interruption. The people who collected the data had to ensure that
no data gets missing to ensure that the research is accurate and after getting the sample data
the managerial body would be able to strategize the way of doing business in a correct way to
get the most profitability. As it is seen that the major expenses were behind transportations
and buying technologically advanced gadgets, thus it can be said that keeping the necessary
back up files of all the audio files of the interview was necessary, and for that purpose there
was some expenses made. After collecting the sample data, it was seen that all costs were
under the budget though there were some unplanned expenses.
Expenses Amount ($)
Gadgets 3000
Transportation 1000
Printing 500
Emergency 450
Total 4950
The allocated budget for data collecting was 5000 US dollars and all the sample
collection was done within the budget.
Proposed outcomes
The probable outcomes of this paper are whether the position of the newly developed
casino is good or not. What is the brand value of the previous name Fun City and whether the
old name should be retained or the management should give it a new name, and rebrand the
organization. The outcome from the samples would be if the management decides to rebrand

MARKETING RESEARCH ESSENTIALS
the organization then what could possibly be the new name of the organization to achieve
most profitability. Not only have these after considering the views of the gamblers, the
management strategized their way of doing business in a way that the organization reaches
the height of success. From the answers of the questions asked to the residents and some
gamblers of the area of operation of the casino, it is seen that the management may retain the
old name Fun City considering the brand value of the name. In today’s economy, brand value
does matter for retaining the profitability of an organization.

MARKETING RESEARCH ESSENTIALS
References
Baloglu, S., Zhong, Y.Y. and Tanford, S., 2017. Casino loyalty: The influence of loyalty
program, switching costs, and trust. Journal of Hospitality & Tourism Research, 41(7),
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Hair, J.F., Celsi, M.W., Ortinau, D.J. and Bush, R.P., 2008. Essentials of marketing research.
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gambling behavior. Quantitative Marketing and Economics, 10(1), pp.27-62.

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Prentice, C. and King, B.E., 2013. Emotional intelligence and adaptability–service encounters
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MARKETING RESEARCH ESSENTIALS
Appendix
Q1. Is the position of the casino good for attracting the visitors and the gamblers?
Q2. Would it be right if the management decides to retain the old name Fun City considering
the brand value of the organization?
Q3. If the managerial body decides to give the organization a new name, then what could
possibly be the name that would attract the customers?
Q4. What changes can the new management bring in to attract more visitors and gamblers?
Q5. Should the management lower some costs to attract visitors within a short span of time?